List down briefly the various inventory management techniques prevalent in the industry. Discuss how some of these techniques would be applicable to a Medical Store in effective management of their inventories, i.e medical supplies.
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Operations Management
1. List down briefly the various inventory management techniques prevalent in the industry. Discuss how some of these techniques would be applicable to a Medical Store in effective management of their inventories, i.e medical supplies.
2. In the competitive business environment, there is a lot of strategic pressure on established companies to compete with the cheaper substitutes as well as maintain quality at the same time. Also there is a recent trend amongst consumers for “first copy/ duplicates” of branded products. Why do you think that these so called “Chinese manufacturers” are able to make products cheaper than most other products available? Also how do you think can competing and maintaining quality be achievable for companies for original branded products like Cadbury, Rayban, etc to tackle the other duplicate products?
3. ABC Ltd is a leading corporate in India in FMCG. After an extensive research by their Marketing department they found out they should diversify into Foods & Beverages. The top management decided to get in the manufacturing of a coconut flavoured soft drink and a coconut flavoured milk based drink. Pumping capital in the venture into the business is not a major concern for the company as they have many regular investors on hand. The company would like to have a major presence with a pan India distribution network
a. Do you think the idea of getting into the business of a coconut flavoured drinks a feasible business/ product on for a FMCG company? Give your views with reasons.
b. Assuming that the business idea would have a very encouraging response, suggest a suitable plant location to set up the beverage manufacturing. Give reasons for the same.
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